Sterling Pound US Dollar: strong bullish signal, expected further extensions

Strong bullish signal on Sterling Pound US Dollar daily chart. The price crosses above the 14-day SMA. Expected further price extensions.

Sterling Pound US Dollar yesterday close was at 1.4232 (+0.77%). The technical view is positive. The strong bullish signal on GBPUSD daily chart leaves assume the up-trend continuation, also confirmed by the major oscillators.

Sterling Pound Dollar strong bullish signal

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Simple Moving Average (SMA)
Strong bullish signal: the price crosses above the 14-day moving average (SMA value is 1.4211). Today trading session forecast is for further price extensions towards the most significant resistance levels.

Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 11/04/2016.

Performance: 7 trading days= +0.03% – 15 trading days= +0.07% – 30 trading days= +1.96%

Resistance levels: R1= 1.4311 – R2= 1.4389 – R3= 1.4570
Pivot Point: 1.4208
Support levels: S1= 1.4130 – S2= 1.4027 – S3= 1.3846

Buying opportunity above 1.4258 targets minor resistance at 1.4326 and perhaps as far as strong resistance at 1.4376, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 1.4464.

Selling opportunity below 1.4172 targets minor support at 1.4098 and perhaps as far as strong support at 1.4048, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 1.3959.

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